Argentina is trying everything
The Argentine Peso in Tuesday’s trading was at 8 pesos to the dollar, as a result of the devaluation of the country’s currency. Argentina is desperately attempting to attract buyers of its debt, thereby raising rates and unfortunately, buyers are not taking up its bonds. President Cristina Fernandez de Kirchner is working hard to put a […]
Turkey raises rates following emergency meeting
The Turkish governor of the TCMB, Erdem Basci, raised rates on overnight lending and borrowing to stop the slide in the Turkish Lira. Lending rates now stand at 12%, while borrowing rates were raised to 8%. During a single trading day last week, the Turkish Lira slid 15%. There was a moderate rebound in the Lira […]